Senior Chief Manager/AVP - Revenue Assurance - Persistency Design & Acquisition Servicing

Principal Accountabilities

Accountability :

Strategies and identify control framework across various drivers for persistency viz. Pre-sales process, onsite monitoring, rewards and recognition, payouts to distributors, product design etc with various stakeholders and such other drivers identified from time to time.

Supporting Actions :

1. Meet various stakeholders both internal and external and customers to identify impactors.

2. Agree with control framework in the presales zones with all stakeholders viz distributors, advisors, and internal sales teams

3. Review customer complaints, persistence and customer VOC and redesign the control framework for presales.

Accountability :

Review the entire pre-sales and login to issuance process end to end to identify gaps, on an ongoing basis

Supporting Actions :

1. Identify measures to strengthen the entire presales and issuance process through meetings with advisors, partners, branches and other stakeholders and through process reviews and insights from complaints,

2. Suggest alterations in the processes and monitor the same.

Accountability :

Monitor the effectiveness of all frameworks on a regular basis

Supporting Actions :

1. Create the framework along with compliance for ongoing review of the sales quality post-issuance and provide continuous feedback for immediate correction.

2. Institutionalise pre-login verification and adopt predictive methods to improve the quality of business

3. Create the control framework required under distance marketing and other call listening requirements for persistence and have those implemented.

4. Ensure regular audits/checks are carried out

5. Focus on poor performing distributors and branches and adopt a differentiated approach to improve quality of business.

6. Carry out regular meetings with internal and external stakeholders for suitable correction in order to improve the quality of business.

Accountability :

Suggest alternate mechanisms to strengthen persistency practices

Supporting Actions :

1. Identify quality issues in new business logins and provide additional / differential controls on a regular basis

2. Provide regular feedback on distributor/advisor behavior for suitable management decisions

Accountability :

Carry out competitive benchmarking to gain insights on practices adopted by competition for sales quality

Supporting Actions :

1. Understand the basic reasons for higher persistency with competition through regular meetings at the industry forum.

2. Suggest best practices in the industry to improve the control framework required for improvement in the quality of business

Accountability :

People management :

Supporting Actions :

1. Managing the team and developing the right skills sets in order to reduce attrition and enhance performance.

2. Analyse training, skills development requirements of the team and enable training for the identified gaps

3. Enable teamwork; improve interpersonal relationships through close personal interaction with the team.

4. Motivate through timely appreciation in the form of reward & recognition.